Horizon Minerals Ltd’s (ASX:HRZ) German-based substantial holder Delphi Unternehmensberatung Aktiengesellschaft has increased its stake in the company to 9.62% from 8.60%.
Through a series of on-market purchases between April 15 and May 10, Delphi, a prolific resources sector investor, now holds a total of 54,625,157 shares in the company.
High-grade intersections at Penny’s Find
Horizon received the remaining assay results from a 21-hole drilling program at Penny’s Find Gold Mine Joint Venture with Orminex Ltd (ASX:ONX) (FRA:GG2) on April 30 that returned further high-grade intersections.
The drill program totalled 4,778 metres, with 2,013 metres of reverse circulation (RC) drilling and 2,765 metres of diamond drilling, targeting down-dip and northern continuance of the gold system beneath the existing open pit to a maximum depth of 282 metres.
Best results include:
- 2.5 metres at 7.45 g/t gold from 226 metres;
- 0.78 metre at 13.34 g/t from 194 metres;
- 0.50 metre at 17.35 g/t from 185.6 metres; and
- 0.47 metre at 17.25 g/t from 208.9 metres.